By The Canadian Press

B.C. finance minister says double-A credit rating sign of continued stability

Oct 28, 2017 | 8:14 AM

VICTORIA — British Columbia’s Finance Minister Carole James says Dominion Bond Rating Service has confirmed the province’s double-A high credit rating, maintaining the rate the province has held since May 2007.

The Ministry of Finance says in a news release that the rating recognizes B.C.’s growing economy, balanced fiscal policy and affordable debt.

It calls the double-A high rating “a strong affirmation of the province’s direction and fiscal position.”

Dominion’s report forecasts the provincial economy will grow by 2.9 per cent this year before slowing to a “more sustainable pace” of around 2 per cent.

The report comes in the wake of the new government’s budget update in September.

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The Finance Ministry says British Columbia remains the only province rated triple-A with all three international credit rating agencies, Moody’s, Standard & Poor’s, and Fitch.

“The AA high rating recognizes that choices to invest in British Columbians will help chart a path to continued economic stability,” James says in the release.

She says the investments being made by the New Democrat government lay the foundation for a better B.C.